The Loan should be the next thing coming up ( on or about Sept 16 ).
If the terms on the initial offering were not enough and not taken:
Sensio Technologies Inc. has entered into an agreement with Global Maxfin Capital Inc., as exclusive agent, for a brokered private placement of up to $2-million aggregate principal amount of unsecured convertible debentures on a commercially reasonable efforts basis.
In addition, the agent has been granted an overallotment option to increase the size of the offering by $300,000, which option may be exercised at any time within 30 days of the closing of the offering.
The debentures will be offered at par at a price of $1,000 per debenture, will mature three years from the date of their issuance and will bear interest at a rate of 12 per cent, payable semi-annually in arrears and compounded annually. The company shall have, subject to regulatory approvals, the option of paying the interest in either cash or common shares of Sensio.
The debentures will be convertible at the holder's option into common shares at a conversion price of 28 cents per common share, being a ratio of 3,571 common shares per $1,000 principal amount of debentures. The company will have the right to force conversion of the debentures if the common shares trade at or above 150 per cent of such conversion price for 20 consecutive trading days before the maturity date.
When this came out we were trading at 0.18.
Since then we have the Panasonic deal and a much lesser Barco deal.
But we are trading at 0.12 right now with no news of the Loan deal out yet.
I imagine it`s going down to the wire, Friday the 13th or Monday the 16th.
We can`t expect anything better, even though we have the Panasonic deal ,if we do it will be a surprise.
If we were converting to 0.28 from trading at 0.18, what can we expect from trading at 0.125-0.13 ?.
My hope and wish it`s a straight loan deal with no shares involved, don`t know if it`s possible, but the dillution could be anywhere as much as 10 million shares with a conversion to 0.20.
All that assuming we do get a loan.
They did not take advantage on the release of the Panasonic deal to shore up the SP and keep it up for a bit.
We all have a vague idea on the Financials, but may get a small surprise with the Pansonic deal and or maybe some 3DGo revenues.
It should be an interesting CC if somebody has the balls to ask the right questions.
Cheers.